Latest news with #RapidTransitSystemLink
The Star
8 hours ago
- Business
- The Star
Japan to aid Johor's rapid economic development
ISKANDAR PUTERI: Japan is ready to support Johor in easing traffic congestion as the state prepares for rapid economic development, says Japanese Ambassador to Malaysia Noriyuki Shikata. He said that addressing congestion was essential for the state as it anticipates significant economic growth with the rapid progress of the Johor-Singapore Special Economic Zone (JS-SEZ). 'Japan is eager to collaborate with Johor by offering cutting-edge solutions, including smart transportation systems and quality infrastructure development. 'By employing Japan's artificial intelligence-driven traffic control systems and digitally optimised public transportation networks, we aim to support Johor in overcoming serious traffic congestion,' he said in his speech during the closing ceremony of the Nikkei Forum. He said that traffic jams not only hamper economic activities, but also waste energy, harm the environment and increase the risk of accidents. 'We hope to cooperate with Johor in becoming a model smart city for transportation solutions, not only in Kuala Lumpur or Johor, but also other megacities in Asean and beyond that are facing traffic congestion issues,' he said. He said the upcoming Rapid Transit System Link, along with the proposed Elevated Autonomous Rapid Transit system, are key to improving public transportation in Johor. On another matter, Shikata also noted that there have been extensive discussions on new green investments in Malaysia, which have resulted in concrete expressions of interest. 'Johor is also emerging as a vital hub for data centres, and these facilities require substantial energy for cooling, presenting a significant environmental challenge. 'In this regard, Japan's liquefied natural gas cooling technology offers an environmentally friendly and efficient solution. 'By adapting this technology, data centres in Johor can significantly improve energy efficiency, reduce their environmental impact and enhance operational performance,' he said. Meanwhile, Invest Johor chief executive officer Natazha Harris said Johor is well-equipped with the necessary frameworks and support systems to welcome more Japanese investments. He said that elements crucial to Japanese investors, particularly talent development and policy consistency, are already in place in Johor. 'For talent, we already have the Johor Talent Development Council, which includes collaboration between academia and industry. 'And on the policy side, we have the Johor Super Lane and the Invest Malaysia Facilitation Centre Johor. 'We already have many things to offer. Now it's a matter of ramping up promotion,' he said when met on the sidelines of the forum here in Medini. He said Invest Johor is focusing its efforts on real projects and partnerships that showcase ongoing progress on the ground. 'These initiatives are not just theoretical, they are already being implemented. 'We have strong case studies to highlight, particularly in Kulai under the Kulai Fastlane, and now with the rollout of the Johor Superlane,' he added. Natazha said the two-day forum here was a good platform for Japanese investors to learn more about what the state has to offer. 'Japanese companies already have a presence in Johor even before the forum. 'Now, interest is growing stronger as Japanese companies have more clarity about what Johor has to offer, on top of the ecosystem already in place. This helps us tell our story to a wider audience, especially with the added leverage from the JS-SEZ,' he said. During the closing ceremony here, Invest Johor also signed a memorandum of understanding (MoU) with Yokohama-based listed technology company NEOJAPAN Inc. Natazha said the MoU marks the start of a strategic collaboration to establish the South-East Asian Centre of Excellence (SEA CoE) within the JS-SEZ. 'Through this initiative, Johor aims to position itself as a leading Asean hub for digital transformation by promoting the JS-SEZ as a base for cutting-edge innovation and talent development. 'As part of the effort, the SEA CoE is expected to train over 1,000 local talents in cloud infrastructure, multilingual IT support, and no-code development, while creating 300 high-skilled jobs in the region,' he said.
New Straits Times
4 days ago
- Business
- New Straits Times
OCBC extends RM351mil financing for projects in Johor-Singapore SEZ
KUALA LUMPUR: OCBC Bank (Malaysia) Bhd has approved RM351 million in financing for three major real estate developments within the Johor-Singapore Special Economic Zone (JS-SEZ). The funding supports a joint venture between property developers See Hong Chen Group and EXSIM Group for the acquisition of freehold land in Johor Bahru. In a statement today, the bank said the mixed-use development has a projected gross development value of RM1.8 billion. OCBC is also financing See Hong Chen Group's purchase of additional freehold land parcels in Bandar Johor Bahru. "The JS-SEZ represents a significant opportunity for long-term economic growth," said OCBC managing director and wholesale banking head Jeffrey Teoh. "We're committed to going beyond traditional lending by delivering integrated financial solutions through our One Group capabilities," he added. The JS-SEZ, a flagship cross-border economic initiative, is expected to catalyse investment flows between Johor and Singapore, with connectivity boosted by the Rapid Transit System Link, which is slated for completion in 2026. See Hong Chen Group managing director See Cherng Jye said the developments aligned with the group's strategy to deliver impactful assets in growth zones. "This collaboration marks a significant milestone for us as we expand our footprint into Johor," said EXSIM managing director Lim Aik Hoe, adding that the projects are designed to meet evolving market and community needs. OCBC is the second-largest banking group by assets in Southeast Asia and is part of a wider financial ecosystem that includes Great Eastern, Bank of Singapore and asset manager Lion Global Investors.
